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Community Food Share aims to raise $1 million by year's end to pay off new building

Anonymous donor pledges $2.5 million

By Magdalena WegrzynLongmont Times-Call

Posted:
10/08/2012 03:08:38 PM MDT

Updated:
10/08/2012 03:11:52 PM MDT

John Kaufman, Community Food Share's warehouse and distribution manager, looks out over the nonprofit's Niwot warehouse on Aug. 22. The nonprofit is trying to raise $1 million by the end of the year to wrap up its million capital campaign on a new space in Louisville. An anonymous donor committed to give CFS $2.5 million and challenged the community to raise another $1 million by Dec. 31.
(Matthew Jonas/Times-Call)

Checks can be sent to Community Food Share, c/o Terry Tedeschi, 6363 Horizon Lane, Longmont, 80503.

NIWOT -- Community Food Share is asking for the public's help in raising $1 million by the end of the year to wrap up the capital campaign for its new building.

In August, the food bank bought a new space in Louisville triple the size of its Niwot headquarters. The project's price tag -- the cost of the building and remodeling -- is about $5.1 million, said Community Food Share CEO Jim Baldwin.

Shortly after closing on the space, an anonymous donor agreed to donate $2.5 million toward the project, Baldwin said, and the donor also challenged the community to raise an additional $1 million by Dec. 31.

That $1 million, combined with the donor's $2.5 million gift, would allow CFS to pay off the $3.5 million loan it took out to buy its new space. And paying off that loan early would save CFS about $300,000 in interest, Baldwin said.

"We would be silly to not go public at this point. We have this once-in-a-lifetime opportunity. Community Food Share has been around since 1981, and we've never had this kind of a generous offer," Baldwin said.

Before the donor's commitment, CFS had raised $1.7 million toward its capital campaign. The organization has also raised a little more than $200,000 toward the $1 million goal.

Baldwin said that staff are applying for grants and waiting for $275,000 in Boulder County Worthy Cause tax to be processed. That money comes from a fund established after voters in 2008 approved a 0.05 percent sales and use tax to benefit construction and building improvements for nonprofit human services organizations.

Baldwin said CFS is on track to move into its new space, a 68,480-square-foot facility at 650 S. Taylor Ave. in Louisville's Colorado Tech Center, in April. Since 1999, the nonprofit's headquarters have been in a 22,400-square-foot warehouse in Niwot at 6363 Horizon Lane, in the Monarch Office Park.

CFS purchased the new space to accommodate the growing number of resident who need food assistance. This year, CFS is expected to distribute more than 7.65 million meals both directly and through a network of nearly 60 agencies in Boulder and Broomfield counties.

The entrance to Community Food Share is seen, Thursday, March 29, in this file photo. The nonprofit is trying to raise $1 million by the end of the year to wrap up its million capital campaign.
((Matthew Jonas/Times-Call))

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